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Original poster

How to make an offer on a home you really want?

15 replies

LopsidedWombat · 15/03/2021 11:45

Hi all. Would really appreciate some advice from those with property experience!

I'm a ftb and have been looking since end of 2019. Due to mobility issues, I have some fairly specific requirements so not seen too many properties that are both suitable and within budget in that time and the search feels like its going on forever tbh and I'm desperate to move! Had an offer accepted last year but seller pulled out of the sale last minute.

Another one has finally come up which is priced to sell and its everything I could want and more. Been told seller is in a hurry. Happy to pay the asking price if I'm still this interested after viewing. Going to see it this week on the day viewings start and wondering how to go about trying to secure it knowing there will be lots of interest. I'm in a good position in that I'm currently renting, mortgage offer already in place (expires May), will use same conveyancer etc as last time. However I can't go a penny over the asking price so stand no chance should a bidding war begin.

Any tips? Can you make an offer while still at the viewing?

Thanks!

OP posts:
emmathedilemma · 15/03/2021 11:52

I think you need to formally submit your offer through the solicitor but I would drop hints about how keen you are and what a good position you're in. Maybe even mention the mobility requirements, you never know, it might just pull at the heart strings ;) I would put your offer in on the basis that it gets taken off the market and no further viewings.
It sounds like you've got everything lined up and ready to go so fingers crossed!

Original poster
LopsidedWombat · 15/03/2021 12:45

Yes absolutely and I'm thinking I need to really put emphasis on how ready I am to get going and with any luck that will be more important than a slightly higher offer. And ha, yes I am willing to try and pull on heart strings if it would help Grin

OP posts:
NoWordForFluffy · 15/03/2021 12:46

If you're in England you offer via the agent and, yes, this can be at the viewing.

BiBabbles · 15/03/2021 12:52

The estate agent at our viewing didn't work in the same office and gave us the impression that anything needed to be done through the right office (also couldn't answer pretty much any questions annoyingly enough other than he was doing viewings there for 2 days & we saw others before and after us) so we offered in email that evening including the offer, our position as FTB with a mortgage AIP, and yes, how much we appreciated the accessibility-related adaptions to the property, and then called straight after to check it had gone through where we got some of our questions answered. We'd already done a lot of research on prices in the area, though even back in December things were weird and here it's even weirder now but unlikely many properties around me, it was priced with the repairs needed considered.

We were asked the next week to make our best and final and told that, even with all the viewings, there were 2 offers being considered. We got some advice from our broker on that (mostly because we were told between those two calls that it's non-standard construction and so we had to make an offer contingent on certain paperwork being found as otherwise it's really hard to get a mortgage and there are safety concerns), we went up by 2.5k, and had our offer accepted and moved forward with solicitors involved once they'd provided the needed paperwork and we provided proof of our position. We're currently waiting on the last of the searches.

Original poster
LopsidedWombat · 15/03/2021 16:22

@BiBabbles thank you, that sounds a very similar situation. I am hoping the estate agent will be able to answer some of the more pressing questions so that I am comfortable enough to make an offer ASAP should that seem the right thing to do. The last property that interested me that had a lot of interest was sold by the end of the day which is why I am keen to not hang about. I hope everything goes smoothly with the last steps of your purchase!

OP posts:
Midlifephoenix · 15/03/2021 16:34

You can make an offer on the spot but if there are lots of viewings lined up they probably won't consider it, and as you suspect it may go to best and final.
You could write a letter but I've sold to best and finals and 99.999% of the time it's who offers most and their position. You are in a good position (cash would be better), and this may be more attractive to the seller than someone who offers more but is in a chain.
Good luck!

RainingBatsAndFrogs · 16/03/2021 00:27

At the viewing, if you really like it, first ask whether any offers have been received.

Say that you will be considering making an offer later that day and ask if there is anything you should know.

Ask whether the vendors are looking for somewhere to buy or what their circumstances are. I.e are they desperate to sell or happy to wait ages. This will all help you make your offer.

Then call them or e mail: some agents send you an offer form.

State your offer, and that you are a FTB and details of your mortgage and deposit. Say you are keen to move fast / happy to wait for them to find somewhere. Say you are serious about this property as you have been looking for somewhere that need your needs for so long.

A ‘proceedable’ buyer who will not mess them about is as important as money, to most vendors.

I hope it is good when you view!

CatAndHisKit · 16/03/2021 02:10

I think you should definitely emphasise that this house is most suitable for your needs, and you've been looking a while, so they will be sure you aer not going to pull out at later stage!

Lots of buyers offer immediately to win over everyone else, and then weeks down the line they see a betert house for them, this is always a risk for the seller whatever gfood position buyers are in. If they know that it's hteir house specfically that you want, it's great - as a seller, I'd definitely choose such a buyer esp if fthey are in no chain.

Original poster
LopsidedWombat · 16/03/2021 09:08

Thank you all for the help. Some good points to consider Smile

OP posts:
LividLiving · 16/03/2021 11:36

We lost a best-and-final where we offered £1k more than the winners, because they had moved into rented and had no chain and we had ftb below us.

So it’s not always ££ that wins.

garlictwist · 16/03/2021 13:01

Our house went to best and final and we won despite not being the highest bidders (we had offered asking price as it was top of our budget and we did not think the house was worth more) but we had a large deposit and were renting.

So it's not always about offering the most.

Original poster
LopsidedWombat · 16/03/2021 17:54

Well, offered asking price with emphasis on proceedable position but by end of day offers were at 20K over so back to the drawing board. Starting to think I will never move!

OP posts:
CatAndHisKit · 16/03/2021 20:33

20K!
oh no, was the house that amazing? I'm in a similar position, looking in popular area at inexpensive terraces and there is always bidding. Got outbid three times now, will have to go into rental soon but at least i'll be no chain (I only have one buyer but he was draggign is feet so I wasn't the most sure option really).

Original poster
LopsidedWombat · 17/03/2021 10:37

@CatAndHisKit I had no idea it would be this difficult and disappointing to purchase a property! The house itself was nice but nothing out of the ordinary, its that it was on a larger than average plot with a lovely garden. Having a place to sell must add to the stress ten fold, when I finally succeed I swear I'll stay put forever to avoid doing all this again but with the additional upset of selling Grin

OP posts:
emmathedilemma · 17/03/2021 11:10

boo that's rubbish :(

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